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ROYAL GOLD INC Director's Dealing 2007

May 18, 2007

30473_dirs_2007-05-18_15487c17-4389-43ba-a325-9596c1d28639.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ROYAL GOLD INC (RGLD)
CIK: 0000085535
Period of Report: 2007-05-16

Reporting Person: WENGER STEFAN (Chief Financial Officer)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2007-05-16 Common stock M 7500 Acquired 45250 Direct
2007-05-17 Common stock S 400 $26.46 Disposed 44850 Direct
2007-05-17 Common stock S 600 $26.66 Disposed 44250 Direct
2007-05-17 Common stock S 2200 $26.7 Disposed 42050 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2007-05-16 Performance shares $0 M 3125 Disposed 2009-11-10 Common stock (3125) Direct
2007-05-16 Performance shares $0 M 2500 Disposed 2010-11-08 Common stock (2500) Direct
2007-05-16 Performance shares $0 M 1875 Disposed 2011-11-07 Common stock (1875) Direct

Footnotes

F1: The number of shares beneficially owned reflect 26,250 shares of restricted stock which have not yet vested, and 5,625 performance shares which have not yet vested.

F2: The number of shares beneficially owned reflect 26,250 shares of restricted stock which have not yet vested, and 5,625 performance shares which have not yet vested.

F3: The number of shares beneficially owned reflect 26,250 shares of restricted stock which have not yet vested, and 5,625 performance shares, which have not yet vested.

F4: The number of shares beneficially owned reflect 26,250 shares of restricted stock which have not yet vested, and 5,625 performance shares which have not yet vested.

F5: Vesting of a performance award which represents a contingent right to receive shares of common stock upon achievement of certain performance goals.

F6: Vesting of a performance award which represents a contingent right to receive shares of common stock upon achievement of certain performance goals.

F7: Vesting of a performance award which represents a contingent right to receive shares of common stock upon achievement of certain performance goals.